Currency snapshot (major pairs)

Dollar index trading at 89.73 (-0.27%)

Strength meter (today so far) – Euro +0.28%, Franc -0.10%, Yen +0.02%, GBP +0.59%

Strength meter (since last week) – Euro +0.28%, Franc -0.10%, Yen +0.02%, GBP +0.59%

EUR/USD –

Trading at 1.231

Trend meter –

• Long term – Buy, Medium term – Buy, Short term – Buy

Support          

• Long term – 1.18, Medium term – 1.2, Short term – 1.22

Resistance –

• Long term – 1.25, Medium term – 1.25, Short term – 1.25

Economic release today –

• NIL

Commentary –

• The euro is higher today due to a weaker dollar. Active call – target  reached1.25

GBP/USD –

Trading at 1.4

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Buy

Support –

• Long term – 1.35, Medium term – 1.385, Short term – 1.385

Resistance –

• Long term – 1.50 Medium term – 1.485, Short term – 1.435

Economic release today –

• NIL

Commentary –

• The pound is the best performer of the day on hawkish comments from Sir Dave, MPC member. Active call-  short-term sell targeting 1.375

USD/JPY –           

Trading at 106.7

Trend meter -

• Long term – Sell, Medium term – sell, Short term – Range/Sell

Support –

• Long term – 101, Medium term – 104.2, Short term – 106

Resistance –

• Long term – 112, Medium term – 110, Short term – 109

Economic release today –

• The coincident index jumped to 120.2 in December.
• Leading economic index declined to 107.4

Commentary –

• The yen is flat for the week. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.934

Trend meter –

• Long term – Buy, Medium term – Range/sell, Short term – Range/Sell

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.92

Resistance –

• Long term – 1.03, Medium term – 0.98, Short term – 0.95

Economic release today –

• Fourth quarter employment level at 4.962 million.

Commentary –

• Franc is the worst performer of the week so far.

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